Lock down your money after Equifax breach

If you suspect you’re a victim of the Equifax data breach, you should have already placed a security freeze on your credit files. It’s the nuclear option of credit protection and should help close the door on anyone trying to set up a fraudulent account in your name. But Consumer Reports says there are several other things you could be doing to put a wall up around your money.

First, setup and activate two-factor authentication on any of your financial accounts that offer including mobile banking, credit cards and a home equity line of credit. It’s an important, extra-layer of protection. It’s your password plus a code, that’s texted to your cell phone that only you have or it’s your password plus, say, a scan of your fingerprint.

Finally, don’t forget the simple move of placing a fraud alert with the three major credit bureaus. It’s free and provides a first-step warning to potential lenders NOT to open accounts in your name, without taking extra steps to verify it’s actually you applying for the credit.

It’s important to get a copy of your credit report so you can monitor regularly for fraud. Consumer Reports says being more diligent about reviewing account statements as well as keeping up-to- date security on any computer or other device you use to access accounts can also add to your financial protection.

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